Germany’s GDP to contract 0.1% q/q in Q2 – TDS

Analysts at TD Securities offer a sneak peek at what to expect from Wednesday’s German Preliminary GDP data for the second quarter, slated for release at 0600 GMT.

Key Quotes:

“Germany releases its first estimate of Q2 GDP today, and we're in line with consensus in looking for a mild contraction of -0.1% q/q.

With nearly a 2% q/q contraction in IP for the quarter, its worst result since 2012, the manufacturing sector will be a substantial drag on German growth through the middle of the year.”